Regal (Hastings) v Gulliver

The Claimants (to whom I will refer collectively as “Guy Carpenter”) carry on business as a leading global risk and reinsurance broker. They are part of the Marsh McLennan Group, which is (like the WTW Group) one of the world’s largest insurance brokers. Guy Carpenter employs around 3,500 people globally, and is one of the two largest reinsurance brokers (along with Aon) in the market – the evidence at trial was that, between them, Guy Carpenter and Aon have something in the region of 80% of the market.

Guy Carpenter seeks injunctive relief in terms which I will deal with later, but which in broad terms includes relief to prevent (i) any further recruitment from Guy Carpenter in the Global Specialties teams in London and Bermuda, and (ii) dealings with certain clients, in each case until 1 April 2027.

This trial was ordered to take place on an expedited basis, and to deal with all issues pertaining to liability and declaratory and injunctive relief. Claims for financial relief (including, if pursued, damages) are for another day.

Guy Carpenter is a specialist reinsurance broker. It is one of four businesses which comprise the global Marsh McLennan professional services group. Another is the well-known insurance broker Marsh. Guy Carpenter, as a reinsurance broker, seeks to assist its insurer clients to determine what risks to reinsure and how to structure the reinsurance, and it liaises with underwriters of reinsurance in seeking to place the required cover (which can sometimes also include retrocession cover for reinsurers).

This claim relates to Guy Carpenter’s Global Specialties business (which I have outlined above) in the UK and Bermuda. The Global Specialties business has about 280 employees. Although Global Specialties places both facultative and treaty reinsurance, most of its business is concerned with treaty placements.